SN SERVICING CORPORATION

A SPECIALIZED MORTGAGE LOAN SERVICING COMPANY

Servicing Nationwide

Frequently Asked Questions

Following are some of the frequent questions asked by our borrowers. Just click
on any of the questions to view the answer. If your question is not addressed below,
please contact your personal Asset Manager or our Customer Service department at
(800) 603-0836.

My loan was recently transferred to you, but I have not received my monthly statement.
What should I do?
You can still make payments prior to receiving a billing statement. In your "Welcome
Letter," we have included your new loan number and the correct mailing address for
your monthly payments. Just write your loan number on your check and mail it to
the address indicated in your "Welcome Letter."

I mailed my payment to the prior servicer before I received notification that
my loan had been transferred. Will my account be credited?
If you mailed your payment to the prior servicer, please be assured that it will
be endorsed and forwarded to SN Servicing Corporation for proper credit to your
account. If you receive a notice from us that it has not been received, please contact
us immediately. Your Customer Service Representative will work with you to either
confirm the payment you sent or make arrangements to resubmit the payment to us.

Whom do I contact now when I have questions or problems?
Your Welcome Letter provided you with contact information for your personal Asset
Manager who is available to help you with any questions or problems you may have

If you no longer have your Welcome Letter, please contact our Customer Service department
at (800) 603-0836.

Where do I mail my payments?
Please send your payment to the address provided on your Billing Statement. If you
cannot locate your billing statement or have not received one, please call our Customer
Service department at (800) 603-0836 to find out the appropriate mailing address
for your loan.

You may also request a copy of your current billing statement in the My Loan
Info area of our Web site. To access this area, you must first
register, then just login and select “Request Billing Statement.”

How can I make my payment without a statement?
We can process your payment without your statement, but it is important that you
write the correct new loan number on your check. If you do not know the mailing
address, please call our Customer Service department at (800) 603-0836.

You may also request a copy of your current billing statement in the My Loan
Info area of our Web site. To access this area, you must first
register, then just login and select “Request Billing Statement.”

Can I make a payment online?
Yes, you can make a payment online, any time of the day or night. To make an online
payment, you must first register
to access our password-protected area, My Loan Info. After you
register, you just login to My Loan Info and select “Make Payment Online.”

When do I receive credit for my payment?
If you mail your payment, credit for your payment will be given on the day it is
received at our lockbox. Please allow sufficient time for the payment to reach us
ahead of the due date disclosed on your Note and monthly statement.

If you pay online, your account will be credited within 24-72 hours of payment,
excluding weekends and holidays.

Why did my payment increase?
If your Note provides for an Adjustable Rate Mortgage (ARM), interest rates and
the corresponding payment amounts will change in accordance with the terms of the
Note. Additionally, there may have been a change in your escrow payment to cover
changes in property taxes and/or insurance.

When is my payment considered late?
Late charges are assessed in accordance with your Note, if payment is not received
within the specified number of grace days. It is always a good idea to keep records
of payments made including canceled checks or bank account statements.

What if I cannot make a payment?
It is important that we know if you are having temporary financial difficulties.
If you cannot make a payment, please contact your personal Asset Manager to discuss
how we can best assist you.

If I am having financial problems, can SN Servicing Corporation help?
Yes. We know how important your home is to you and we recognize that sometimes
bad things happen to good people. Don't hesitate to give us a call. We strive to
establish strong, long-term relationships with our borrowers and are here to help.

How can I get an update on the status of my loan?
You may request a loan/payment status, including outstanding balance and payment
history, online in our My Loan Info area. To access this password-protected
area, you must first register,
then just login and select “Request Loan/Payment Status.”

Our turnaround time is typically 10 business days from the time your request is
made.

How can I get a payoff balance?
You may request a loan payoff statement online in our My Loan Info
area. To access this password-protected area, you must first
register, then just login and select “Order Payoff Quote.”

Our turnaround time is typically 10 business days or within any applicable state
mandated timeframes. If your loan was recently transferred, a payoff quote may take
additional time as we need to obtain the necessary loan documents from the prior
servicer.

May I send extra money to help payoff my loan?
Yes. Please note that any amount sent over and above the regular payment will be
applied first to any outstanding charges or delinquent payments and then to principal.
Please refer to your Note for specific information on partial prepayments and to
verify if there are any prepayment penalties.

If I plan to payoff my loan, do I still need to send a regular payment?
Yes. If the payoff of your loan will occur after your regular payment due date,
then you must still submit your regular monthly payment in order to avoid any late
charges or penalties.

Can SN Servicing Corporation refinance my loan?
Unfortunately, we cannot help you refinance your loan. We are a loan servicing organization
and do not originate loans.

When can I expect a refund from my escrow account, once my loan has been paid
in full?
Any escrow refund or other overpayment is mailed 15 days after your loan has been
paid in full. Please be sure to provide us with any new mailing address information
to ensure receipt of the refund.

How soon will my lien be released after payoff?
Normal processing time is within 90 days of payoff, but times may vary depending
on circumstances.

Escrow, Insurance and Taxes

Do I need homeowner's insurance?
For your protection as well as ours, insurance is required on your property. As
noted in your Welcome Letter, the conditions of your mortgage require you to maintain
a hazard insurance policy and provide us with evidence of coverage. If you have
not contacted your insurance representative and asked them to fax over proof of
your insurance coverage, please do so immediately

The policy must list the correct mortgagee clause information, which includes our
address and fax number as shown below, the effective date and coverage amounts

The mortgagee clause must read as follows:

SN Servicing Corp
ISAOA ATIMA
P.O. Box 35
Eureka, CA 95502

FAX to SN SERVICING CORPORATION (707) 443-1562

If we do not receive evidence of acceptable hazard insurance, SN Servicing Corporation
has the right to secure insurance coverage on your behalf. This replacement insurance
only covers the "unpaid principal balance" of your loan. The coverage is limited
to physical damage to the structure. Supplemental coverage, such as liability coverage
or personal contents are NOT included in this policy

Please be aware that the premiums and the deductible may be higher than on a private
policy.

How do I update my homeowner’s insurance information?
You may easily and quickly update your homeowner’s insurance information online
in the My Loan Info area. To access this password-protected area,
you must first register,
then just login and select “Update Homeowners Insurance Info.”

What is an escrow/impound account?
An escrow account is an account set up by a servicer or lender into which the borrower
pays money to cover property taxes and/or homeowners' insurance

If you had an escrow account with your prior lender, please be certain that any
statement received contains an escrow amount in accordance with your experience
and expectations and notify us immediately of any discrepancies.

Who pays my taxes and/or insurance?
If you do not have an escrow account (see Q.18), you are responsible for paying
your taxes and/or insurance.

Account Information

How can I get a copy of my year-end tax information?
You may request a copy of your year-end tax information online in our My Loan
Info area. To access this password-protected area, you must first
register, then just login and select “Request Year-End Tax Info.”

Our turnaround time is typically 10 business days from the time your request is
made.

How can I change my contact information?
You may update your personal contact information, including your address, phone
number and email address, in the My Loan Info area of our Web site.
To access this password-protected area, you must first
register, then just login and select “Updated Personal Info.”

How can I obtain copies of my loan documents if I misplace my originals?
Please contact Customer Service or your personal Asset Manager to request new copies
of your loan documents.

Glossary

Following are some of the most common loan terms and definitions that you may encounter.

Additional Principal Payment - A payment by a borrower of more than the scheduled
principal amount due in order to reduce the remaining balance on the loan

Adjustable Rate Loan/Mortgage (ARM) - A home loan where the interest rate
can be adjusted periodically on the basis of changes in an index, as stated in the
loan document

Adjustment Periods - Adjustment periods are terms set out in the loan document
that call for possible changes in the interest rate and payments during a particular
time frame of an ARM loan, which could be from one month to several years

Amortization Schedule - The amortization schedule of a loan is the timetable
for loan re-payment that shows how much of each payment is applied to interest and
how much to principal, as well as the remaining balance after each payment

Annual Percentage Rate (APR) - The cost of credit on a yearly basis, expressed
as a percentage

Appraisal - An appraisal is a written analysis of the estimated value of
real estate, usually conducted to determine the loan amount. Appraisals on behalf
of lenders are prepared by licensed appraisers

Asset - An asset is anything a person owns that has monetary value

Balloon Loan - A balloon loan is one that calls for a large sum to be paid
at the end of the loan term.

Balloon Payment - A lump-sum payment that may be required at the end of some
mortgage loans, or at a specified period of time (e.g. 5 years into a loan)

Bankruptcy - A proceeding authorized by federal law which provides debtors
with various kinds of relief from their debts

Basis Point - One one-hundredth of one percent. Used primarily to describe
changes in yield or price on debt instruments, including mortgages and mortgage-backed
securities. Commonly used to describe differences in mortgage interest rates

Before Tax Income - Earnings calculated before income taxes are deducted

Buy-Down Loan - A temporary buy-down is a loan on which a borrower makes
a one-time payment to reduce the interest rate during the first year or years of
a loan. A permanent buy-down reduces the interest rate over the course of the entire
loan term

Cap - A cap is a provision of an adjustable rate loan (ARM) that limits how
much the variable interest rate may increase or decrease during the life of the
loan

Cash Out Refinance - A cash out refinance is a loan in which the amount borrowed
exceeds the total amount needed to repay the original loan and loan expenses, in
essence putting cash into the borrower's pocket

Chapter 7 Bankruptcy - A court petition that requires that you liquidate
your non-exempt assets, including your home in certain cases, in exchange for a
discharge of most of your debts

Chapter 13 Bankruptcy - A court petition that allows you to enter into a
payment plan with the court to repay some or all of your debts over a three- to
five-year period

Closing - The "closing" is the period that marks that a loan transaction
is final

Closing Costs - Fees paid at closing, including attorneys’ fees, fees for
preparing and filing a mortgage, fees for title search, taxes and insurance

Co-Signer/Co-Borrower - Another person who signs the loan and assumes equal
responsibility for its payments

Collateral - Property used to secure repayment of a loan

Collection - A loan goes into collection when payment on a loan is delinquent
and efforts are made to collect the amount due. This is also the stage at which
the lender files the papers necessary to prepare to proceed with foreclosure

Combined Loan to Value (CLTV) - The sum of all liens on the property divided
by the value (or purchase price, if applicable) of the property

Conventional Loan - Consumers need to demonstrate excellent credit in order
to obtain an "A" or conventional loan, generally a credit score of 670-680 or higher

Credit Bureau - An organization that gathers, records, updates and stores
financial and public records information about the payment records of individuals
who are being considered for credit

Credit Report - Information collected by credit bureaus about your credit
history, including where you owe money, how much you owe, your credit cards and
their balances and whether you pay your bills on time

Credit Score - A number, based on information in your credit report that
is used by most lenders to decide whether to extend credit and at what cost. The
most common score used is called a FICO score

Creditor - A person or business from whom you borrow or to whom you owe money

Credit Limit - The maximum amount that may be borrowed

Debt Consolidation - Refinancing one or more existing debts into a new loan.
In the mortgage-lending context, relatively short-term, unsecured debt is often
rolled into a long-term mortgage loan

Debt-to-income Ratio - The amount of money you have to pay out each month
as a percent of your gross income. For example, $2,500 of debt service / $5,000
of gross income = 50% DTI (debt-to-income) ratio

Default - Default on a loan is when a borrower fails to comply with any of
the terms of an agreed-upon loan, including timely repayment

Depreciation - Loss of value in real property brought about by age, physical
deterioration, or functional/economical obsolescence. Generally, the loss of value
due to any cause

Disclosures - Information that must be given to consumers to make them aware
of acts and laws that affect their financial dealings

Equal Credit Opportunity Act (ECOA) - The Equal Credit Opportunity Act (ECOA)
is a federal law that prohibits lenders from discrimination on the basis of race,
color, religion, national origin, age, sex, marital status, or receipt of income
from public assistance programs or the exercise of certain consumer rights

Equity - The difference between the fair market value (appraised value) of
your property and any outstanding loans, liens and encumbrances

Escrow - Escrow is a separate account where money and/or documents are held
by a third party until previously specified conditions are met. Often times, escrow
is referred to as the time period between an offer to purchase a home being accepted
by the sellers(s) and the financial details being settled

Fair Credit Reporting Act - The Fair Credit Reporting Act is a federal consumer
protection law that regulates the disclosure of consumer credit reports and establishes
procedures for correcting any errors that may appear on a credit report

Fair Market Value - The value of a property, which is typically based on
comparable sales of similar properties within the last six months

FICO Score - A credit score developed by Fair Isaac & Co. that determines
the likelihood that credit users will pay their bills. Scoring is widely accepted
by lenders as a reliable means of credit evaluation

Fixed-rate Loan - A fixed-rate loan is one in which the interest rate or
scheduled payment amount does not change during the course of the loan

Foreclosure - The process by which your lender sells your property at public
auction to pay off your loan

Home Equity Line of Credit - A credit agreement, secured by the home, in
which the borrower can borrow up to a fixed credit limit

Impounds - A trust account established by lenders for the accumulation of
borrower funds to meet certain expenses such as taxes and hazard insurance

Index - A published rate that serves as a base for the interest rate charged
on a loan and also as the base for rates changes used by the lender

Interest Rate - The percentage rate that lenders charge for use of their
money

Jumbo Loan - Generally, a loan that is larger than the limits set by the
Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.
Because jumbo loans cannot be funded by these two agencies, they usually carry a
higher interest rate

Lender - The individual or company that loans you money

Lien - A legal claim upon a piece of property generally for the payment of
a debt or obligation

Loan-to-Value Ratio - The amount of money you owe on your loans as a percent
of the market value of your home

Minimum Payment - The minimum amount that you must pay, usually monthly,
on your loan. Under some plans, the minimum payment may cover interest only; under
others, it may include both principal and interest

Mortgage (Deed of Trust) - A pledge of collateral as security. In some states,
the term mortgage also describes the document signed to show that the lender is
granted a lien on the home. It may also show the amount of money borrowed

Mortgage Broker - An individual in the business of assisting in arranging
funding or negotiating contracts for a client but who does not loan the money himself.
Brokers usually charge a fee or receive a commission for their services

Non-Prime/Sub-Prime - Nonprime, also known as sub-prime, is the designation
given to borrowers with less than perfect credit ratings. Such ratings may be the
result of limited credit histories, past credit difficulties, high debt-to-income
ratio or other factors

Note - An abbreviation for promissory note. It discloses the interest rate
and terms of your loan

Partial Payment - A payment that is not sufficient to cover the scheduled
monthly payment on a mortgage loan

Partial Prepayment - A payment by a borrower of more than the scheduled principal
amount due in order to reduce the remaining balance on the loan

Payoff - The act of paying off your loan by paying the outstanding principal
amount and any additional payments due

Points - Points are finance charges paid at closing. Each point equals 1%
of the loan amount. Some lenders charge a flat fee, rather than points

Prepayment Penalty - A lender may impose a prepayment penalty if a loan is
paid off before it is due. This is usually because the lender incurs costs when
making a loan and will build these costs into the borrower's payments over the life
of the loan. When a borrower pays the loan off early, the lender tries to recoup
some of its costs through a prepayment penalty

Principal Balance - The outstanding balance of a loan. This usually does
not include expenses advanced in the event a loan is in default

Promissory Note - The document in which you promise to repay the money that
was loaned to you. It discloses the interest rate and terms of your loan

Refinance - Obtaining a new loan on your property to pay off your existing
loan(s). The new loan usually has some kind of benefit to the borrower, either lower
interest rates or lower monthly payments

Rescission - A rescission period is required by the Federal Government to
allow a property owner to cancel a loan transaction. This period is 3 business days
between the loan closing and the disbursement of funds, which applies when a security
interest is taken in a consumer’s principal dwelling

Revolving Debt - Credit account that establishes a maximum dollar amount
that can be borrowed, requiring monthly payments of less than the full amount due.
The balance carried forward is subject to a finance charge. Also, an arrangement
whereby credit is extended up to a specified limit and for a specified period with
a fee charged for the commitment. Also called open-end credit or revolving line
of credit

Second Mortgage - Second priority lien against the equity in a home, usually
following a purchase money mortgage

Secured Loan - A secured loan is one in which the borrower offers up something
of value as collateral for the loan

Securitization - The process of pooling loans into securities backed by mortgage
loans. This is one process used to provide capital for the creation of mortgage
loans

Servicer - A servicer is a company that handles all payment-related transactions
with borrowers. A servicer is often used to collect payments of loans that have
been purchased by an investor in the secondary loan market

Sub-Prime - Sub-prime, also known as non-prime, is the designation given
to consumers with less than perfect credit ratings. Such ratings may be the result
of limited credit histories, past credit difficulties, high debt-to-income ratio
or other factors

Title - The evidence of the right to ownership of real property

Transaction Fee - A fee charged each time you draw on your credit line

Trust Deed - The document that secures the promissory note to your home and
is recorded in the county as evidence of the debt

Truth in Lending Act - The Truth in Lending Act is a Federal law that requires
creditors to fully disclose the terms and conditions of consumer loans, in writing.
Disclosure must include the loan's annual percentage rate and any additional fees
and charges to be paid by the borrower

Underwriting - Underwriting is the process lenders use to determine the risk
involved in any given loan

Variable Rate - An interest rate that changes periodically in relation to
an index. Payments may increase or decrease accordingly